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Brazil 2014 stadiums on track, but costs soar

The bad news is that they are already three times over budget and are being built with taxpayers' money despite initial promises that private enterprise would foot the bill.

Although all the stadiums should be ready for the kick-off in 26 months' time, with sports minister Aldo Rebelo saying that some will be ready by the end of this year, there will be a heavy price for Brazil's beleaguered taxpayers to pay.

"I don't understand why a stadium in Brazil needs to cost 500 million reais ($275 million) when there are examples of stadiums built elsewhere in the world with 40,000 or 50,000 seats that cost less than half that," said Amir Somoggi, Sports Management Consulting Director at BDO Brazil, an auditing firm.

The ballooning price tag of the World Cup preparations is yet another example of the "Brazil cost", an exasperating mix of high taxes, stifling bureaucracy and crumbling infrastructure that make Brazil a notoriously expensive and difficult place to do business.

The stadium, which will belong to Sao Paulo's biggest club Corinthians once the tournament is over, will seat 48,000 fans and cost at least 820 million reais ($450.5 million).

But that doesn't include the construction and removal of the 20,000 additional seats that FIFA, football's governing body, requires for the opening game.

"Our contract is to build a 48,000-seat stadium and prepare the ground for the additional seating," said Frederico Barbosa, the engineer in charge of the project. "The cost of that is still being discussed."

"We've been surprised how well things have gone, to get this far after just nine months is great," said Barbosa.